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RBS warns of delay in Williams & Glyn spin-off

Royal Bank of Scotland revealed on Thursday that it may miss the December 2017 deadline set by the European Union to spin out Williams & Glyn, adding that costs associated with the separation were escalating.

The UK lender is understood to be facing difficulties in selling 300 Williams & Glyn branches as part of the spin-off, the cost of which was initially pegged at £1.2bn.